The Home Depot, Inc. (NYSE:HD) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank decreased its stake in The Home Depot, Inc. (NYSE:HD) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,078 shares of the home improvement retailer’s stock after selling 75 shares during the period. Cape ANN Savings Bank’s holdings in Home Depot were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Ethic Inc. grew its position in shares of Home Depot by 7.1% during the fourth quarter. Ethic Inc. now owns 70,759 shares of the home improvement retailer’s stock worth $24,522,000 after acquiring an additional 4,674 shares during the last quarter. First Financial Bankshares Inc purchased a new position in Home Depot during the 4th quarter worth $42,817,000. Washington Trust Bank increased its stake in Home Depot by 0.6% in the fourth quarter. Washington Trust Bank now owns 47,470 shares of the home improvement retailer’s stock valued at $16,451,000 after purchasing an additional 282 shares during the period. Garner Asset Management Corp purchased a new stake in shares of Home Depot in the fourth quarter valued at about $139,000. Finally, Power Corp of Canada boosted its stake in shares of Home Depot by 104.9% during the fourth quarter. Power Corp of Canada now owns 43,707 shares of the home improvement retailer’s stock worth $15,147,000 after buying an additional 22,374 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on HD shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. Guggenheim upped their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group started coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $398.54.

Home Depot Price Performance

Shares of NYSE HD opened at $414.23 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The company’s 50-day moving average price is $374.21 and its 200 day moving average price is $356.13. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $415.29. The stock has a market cap of $410.76 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the firm earned $4.65 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.